Hassan Maishera
On Tuesday, the Pancakeswap team told its community via X that it had a deflation of 554k CAKE ($1.21M). The deflation figure follows the burning of 239k CAKE ($522k) by AMM V2, up 8%, and the destruction of 222k CAKE ($484k) by AMM V3, down 26%. AMM Infinity also destroyed 14.5k CAKE ($31.5k) Other Sources (Prediction, Perpetual, etc.) burned 79k CAKE ($172k), down 7%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 6.8% today and is currently trading at $2.011.
